Variable mortgages are the market standard, with a range of features that allow you to choose the frequency of your repayments, and facilities for redraw.
By applying for a variable rate mortgage, your interest rate will move along with the market rate, so you may find your repayments changing many times a year.
The alternative is to fix your rate for a few years, when you think that rates will rise in the future. Many borrowers choose a combination, splitting their loan so that some of it has a fixed rate and the rest a variable rate.
Get an expert opinion before you make the big decision.
Find the best fitting mortgage for you using RateCity’s home loan comparison tool.